Download or read book Full Employment Abandoned written by William Mitchell and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book by William Mitchell and Joan Muysken is both important and timely. It deals with the issue of the abandonment of full employment as an objective of economic policy in the OECD countries. It argues persuasively that macroeconomic policy has been restrictive over the recent, and not so recent past, and has produced substantial open and disguised unemployment. But the authors show how a job guarantee policy can enable workers, who would otherwise be unemployed, to earn a wage and not depend on welfare support. If such a policy is fully supported by appropriate fiscal and monetary programmes, it can create full employment with price stability, which the authors label as a Non-Accelerating-Inflation-Buffer Employment Ratio (NAIBER). This book is essential reading for any one wishing to understand how we can return to full employment as the normal state of affairs. Philip Arestis, University of Cambridge, UK This book dismantles the arguments used by policy makers to justify the abandonment of full employment as a valid goal of national governments. Bill Mitchell and Joan Muysken trace the theoretical analysis of the nature and causes of unemployment over the last 150 years and argue that the shift from involuntary to natural rate conceptions of unemployment since the 1960s has driven an ideological backlash against Keynesian policy interventions. The authors contend that neo-liberal governments now consider unemployment to be an individual problem rather than a reflection of systemic policy failure and that they are content to use unemployment as a policy instrument to control inflation and coerce the unemployed with work tests and compliance programmes rather than provide sufficient employment. They present a comprehensive theoretical and empirical critique of this policy approach, with a refreshing new framework for understanding modern monetary economies. The authors show that the reinstatement of full employment with price stability is a viable policy goal that can be achieved by activist fiscal policy through the introduction of a Job Guarantee. Full Employment Abandoned will appeal to graduate and postgraduate students and researchers of economics and politics with an interest in macroeconomic policy and the labour market, particularly unemployment and neo-liberal policy frameworks.

Download or read book Back to Full Employment written by Robert Pollin and published by MIT Press. This book was released on 2012 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist Robert Pollin argues that the United States needs to try to implement full employment and how it can help the economy.

Download or read book No More Work written by James Livingston and published by UNC Press Books. This book was released on 2016-10-28 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: For centuries we've believed that work was where you learned discipline, initiative, honesty, self-reliance--in a word, character. A job was also, and not incidentally, the source of your income: if you didn't work, you didn't eat, or else you were stealing from someone. If only you worked hard, you could earn your way and maybe even make something of yourself. In recent decades, through everyday experience, these beliefs have proven spectacularly false. In this book, James Livingston explains how and why Americans still cling to work as a solution rather than a problem--why it is that both liberals and conservatives announce that "full employment" is their goal when job creation is no longer a feasible solution for any problem, moral or economic. The result is a witty, stirring denunciation of the ways we think about why we labor, exhorting us to imagine a new way of finding meaning, character, and sustenance beyond our workaday world--and showing us that we can afford to leave that world behind.

Download or read book The Full Employment Horizon in 20th Century America written by Michael Dennis and published by Bloomsbury Publishing. This book was released on 2021-02-11 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through moments of social protest, policy debate, and popular mobilization, this book follows the campaign for economic democracy and the fight for full employment in the United States. Starting in the 1930s, Dennis explores its intellectual and philosophical underpinnings, the class struggle that determined the fate of legislation and the role of left-wing civil rights activists in its revival. Demonstrating how the campaign for full employment intersected with movements for women's liberation and civil rights, it explores how social groups and oppressed minorities interpreted and appropriated the promise of full employment. For many, full employment provided an indispensable path to racial and gender emancipation. In this book, Dennis uncovers the class dimensions and the resistance to full employment in the US. He demonstrates how the recurring debates over full employment consistently exposed the contradictions inherent in a capitalist society and challenged the assertion that an allegedly free enterprise system automatically generated employment for all.

Download or read book Inclusive Growth Full Employment and Structural Change written by Jesus Felipe and published by Anthem Press. This book was released on 2012-12-15 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Inclusive Growth, Full Employment, and Structural Change: Implications and Policies for Developing Asia' discusses policies to achieve inclusive growth in developing Asia, including agriculture, investment, certain state interventions, monetary, fiscal, and the role of the state as employer of last resort. Felipe argues that full employment of the labor force is the key to delivering inclusive growth. Full employment is the most direct way to improve the well-being of the people, especially of the most disadvantaged. Since unemployment and underemployment are pervasive in many parts of the region, Asian leaders must commit to the goal of full employment. The book also analyzes the region's phenomenal growth in recent decades in terms of structural transformation. Accelerating it is vital for the continued growth of developing Asia. But efforts to achieve full employment might be held back given that structural transformation requires massive labor shifts across sectors, and these are difficult to coordinate. Moreover, the goal of full employment was abandoned in the 1970s, and governments and central banks have since concentrated on keeping inflation low.

Download or read book Full Employment and Social Justice written by Michael J. Murray and published by Springer. This book was released on 2017-11-30 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection investigates how full employment programs can sustain the economy and the environment, promote social justice, and reinvigorate local communities. The contributing authors focus on the formation of institutions to eliminate the opportunity gap for marginalized populations, enact environmentally sustainable methods of production and consumption, and rebuild local economies through education, training, and community redevelopment programs. They argue that the formation and implementation of a federally funded, locally operated Job Guarantee program is a vital component to address a variety of complex and interweaving concerns. Through the formation of alternative institutions and encouraging local economies, the Job Guarantee approach has the potential to alter economic, social, and political structures away from an exploitative market-oriented structure toward one that is refocused on humanity and the sustainability of the earth and its peoples, cultures, and communities.

Download or read book Budgetary Policy Modelling written by Pantelis Capros and published by Routledge. This book was released on 2005-11 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Budgetary policy plays an increasingly central role in modern economies. This volume explores different approaches to modelling this crucial area.

Download or read book The Routledge Handbook of Heterodox Economics written by Tae-Hee Jo and published by Routledge. This book was released on 2017-07-28 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a ‘pluralistic’ heterodox perspective. Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics; Régulation theory; the Social Structure of Accumulation approach; and ecological economics. They explain the structural properties and dynamics of capitalism, as well as propose economic and social policies for the benefit of the majority of the population. This book aims, firstly, to provide realistic and coherent theoretical frameworks to understand the capitalist economy in a constructive and forward-looking manner. Secondly, it delineates the future directions, as well as the current state, of heterodox economics, and then provides both ‘heat and light’ on controversial issues, drawing out the commonalities and differences among different heterodox economic approaches. The volume also envisions transformative economic and social policies for the majority of the population and explains why economics is, and should be treated as, a social science. This Handbook will be of compelling interest to those, including students, who wish to learn about alternative economic theories and policies that are rarely found in conventional economics textbooks or discussed in the mainstream media, and to critical economists and other social scientists who are concerned with analyzing pressing socio-economic issues.

Download or read book Failure by Design written by Josh Bivens and published by Cornell University Press. This book was released on 2011-02-15 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Failure by Design, the Economic Policy Institute’s Josh Bivens takes a step back from the acclaimed State of Working America series, building on its wealth of data to relate a compelling narrative of the U.S. economy’s struggle to emerge from the Great Recession of 2008. Bivens explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. As outlined clearly here, economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade’s sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, Failure by Design also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low- and middle-income workers. Josh Bivens tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis. Intended as both a stand-alone volume and a companion to the new State of Working America website that presents all of the data underlying this cogent analysis, Failure by Design will become required reading as a road map to the economic problems that confront working Americans.

Download or read book The Philosophy of Debt written by Alexander X. Douglas and published by Routledge. This book was released on 2015-11-06 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: I owe you a dinner invitation, you owe ten years on your mortgage, and the government owes billions. We speak confidently about these cases of debt, but is that concept clear in its meaning? This book aims to clarify the concept of debt so we can find better answers to important moral and political questions. This book seeks to accomplish two things. The first is to clarify the concept of debt by examining how the word is used in language. The second is to develop a general, principled account of how debts generate genuine obligations. This allows us to avoid settling each case by a bare appeal to moral intuitions, which is what we seem to currently do. It requires a close examination of many institutions, e.g. money, contract law, profit-driven finance, government fiscal operations, and central banking. To properly understand the moral and political nature of debt, we must understand how these institutions have worked, how they do work, and how they might be made to work. There have been many excellent anthropological and sociological studies of debt and its related institutions. Philosophy can contribute to the emerging discussion and help us to keep our language precise and to identify the implicit principles contained in our intuitions.

Download or read book Environment and Employment written by Philip Lawn and published by Routledge. This book was released on 2009-06-30 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mounting evidence suggests that GDP growth is damaging the natural environment and unlikely to be ecologically sustainable in the long-run. At the same time, an annual GDP growth rate of around three percent is regarded as the minimum necessary to prevent unemployment from escalating. Clearly, a trade-off exists between environmental goals and employment goals, yet this trade-off has been largely ignored or denied. This book aims to resolve the environment-employment dilemma by suggesting ways and means to achieve low rates of unemployment, or preferably full employment, in the context of a low-growth or steady-state economy. In search of a solution to this dilemma, this book seeks to answer the following questions: What existing paradigms offer a possible foundation for further investigation into issues dealing with both the environment and employment? What specific initiatives can be implemented to deal with unemployment given that any potential solution must be consistent with responsible macroeconomic policy? To what extent can ecological tax reform provide a solution to the environment-employment dilemma? Under what circumstances is it clear that certain forms of employment generation are antithetic to the goal of ecological sustainability? How can more favourable employment-generating opportunities be exploited in ways which lower unemployment or achieve full employment without the need for ecologically-destructive GDP growth? This book will no doubt stimulate a broader discussion on the issue, and it may just begin a process that leads to the eventual emergence of a viable policy strategy to generate a sustainable, full employment future. This book will be of interest to decision-makers, civil servants, researchers, and NGO employees as well as students of environmental and ecological economics and issues related to employment and unemployment.

Download or read book The Job Guarantee and Modern Money Theory written by Michael J. Murray and published by Springer. This book was released on 2017-01-25 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors to this edited collection argue that a flexible Job Guarantee program able to react to an economy’s fluctuating need for work would stabilize the labor standard, the value of employment in relation to money. During economic downturns, the program would expand to provide more public sector jobs in response to private sector layoffs. It would then contract when economic growth offered private sector employment opportunities. This flexible full employment program would create a balanced, perpetually active labor force, providing the macroeconomic stability necessary to define a functioning labor standard. Just as the gold standard measured the worth of money against gold reserves, John Maynard Keynes argued, so a labor standard ought to measure the value of money in terms of its labor equivalent. However, he failed to account for the fact that, unlike a gold standard, a labor standard does not have any kind of surety that money will continue to match its value in paid work over time. Together, the contributors argue that full employment would provide this missing security and allow authorities to define the value equivalencies of money and labor, the way that money once represented its exact equivalent in gold.

Download or read book The Impact of Networks on Unemployment written by J. M. Hurst and published by Springer. This book was released on 2016-10-12 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates why networks, some with joined-up governance remits, appeared ineffective in handling neighbourhood unemployment even in periods when the national unemployment levels dropped. It deploys a multi-theoretical and methodological framework to investigate this empirical puzzle, and to test and analyse the causal factors influencing network outcomes. Chapters examine network concepts, network theories, outcome indicators, the historical infrastructure and management of unemployment policy, and governing network trends in post-war urban regeneration interventions. Comparative network case studies offer empirical evidence and a high degree of local variation. Mixed methods (qualitative and quantitative approaches), including social network analysis, uncover formal and informal networks, and eighty-six interviews in two English local authorities with persistent unemployment, give voice to network practitioner experiences. Findings explain why sub-optimal network outcomes prevail and operational difficulties persist on the ground. Students and academics, professionals and activists can use the results to challenge network governance theories and the policy status-quo.

Download or read book Abandoned Families written by Kristin S. Seefeldt and published by Russell Sage Foundation. This book was released on 2016-12-25 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Education, employment, and home ownership have long been considered stepping stones to the middle class. But in Abandoned Families, social policy expert Kristin Seefeldt shows how many working families have access only to a separate but unequal set of poor-quality jobs, low-performing schools, and declining housing markets which offer few chances for upward mobility. Through in-depth interviews over a six-year period with women in Detroit, Seefeldt charts the increasing social isolation of many low-income workers, particularly African Americans, and analyzes how economic and residential segregation keep them from achieving the American Dream of upward mobility. Seefeldt explores the economic and political obstacles that have altered the pathways for opportunity. She finds that while many low-income individuals work, enroll in higher education, and attempt to use social safety net benefits in times of crisis, they primarily have access to subpar institutions, which often hamper their efforts to get ahead. Many of these workers hold unstable, low-paying service sector jobs that provide few paths for advancement and exacerbate their social isolation. Those who pursue higher education to gain qualifications for better paying jobs often enroll in for-profit schools and online programs that push them into debt but rarely lead to secure employment or even a degree. And while home ownership was once the best way to establish wealth, Seefeldt finds that in declining cities like Detroit, it can saddle low-income owners with underwater mortgages in depopulated neighborhoods. Finally, she shows that the 1996 federal welfare reform and other retrenchments in the social safety net have made it more difficult for struggling families to access public benefits that could alleviate their economic hardships. When benefits are difficult to access, families often take on debt as a way of managing. Taken together, these factors contribute to what Seefeldt calls the “social abandonment” of vulnerable families. Abandoned Families is a timely, on-the-ground assessment of hardship in contemporary America. Seefeldt exposes the shortcomings of the institutions that once fostered upward mobility and shows how sweeping policy measures—including new labor protections, expansion of the social safety net, increased regulation of for-profit colleges, and reparations—could help lift up those who have fallen behind.

Download or read book Neoliberalism and the Road to Inequality and Stagnation written by Palley, Thomas I. and published by Edward Elgar Publishing. This book was released on 2021-11-05 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tom Palley has made a significant contribution to understanding the meaning and significance of neoliberalism. This chronicle collects some of his best work to explain how global adoption of neoliberal policies over the past thirty years has increased income inequality and created tendencies to stagnation.

Download or read book Macroeconomics written by William Mitchell and published by Bloomsbury Publishing. This book was released on 2019-02-08 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: This groundbreaking new core textbook encourages students to take a more critical approach to the prevalent assumptions around the subject of macroeconomics, by comparing and contrasting heterodox and orthodox approaches to theory and policy. The first such textbook to develop a heterodox model from the ground up, it is based on the principles of Modern Monetary Theory (MMT) as derived from the theories of Keynes, Kalecki, Veblen, Marx, and Minsky, amongst others. The internationally-respected author team offer appropriate fiscal and monetary policy recommendations, explaining how the poor economic performance of most of the wealthy capitalist countries over recent decades could have been avoided, and delivering a well-reasoned practical and philosophical argument for the heterodox MMT approach being advocated. The book is suitable for both introductory and intermediate courses, offering a thorough overview of the basics and valuable historical context, while covering everything needed for more advanced courses. Issues are explained conceptually, with the more technical, mathematical material in chapter appendices, offering greater flexibility of use. Accompanying online resources for this title can be found at bloomsburyonlineresources.com/mitchell-macroeconomics. These resources are designed to support teaching and learning when using this textbook and are available at no extra cost.

Download or read book The Elgar Companion to Post Keynesian Economics written by J. E. King and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Elgar Companion to Post Keynesian Economics is a comprehensive guide to economic analyses in the tradition of Keynes and the so-called Cambridge (UK) school of economics. The coverage of themes and different theoretical orientations within Post Keynesianism is remarkable and the quality of the various entries is impressive. John Kings invisible hand is responsible for a minimum of overlaps and an optimum in quality and comprehensibility. This book has already proved to be of interest to a wide range of economists and can be expected to continue to do so for a long time to come. Heinz D. Kurz, University of Graz, Austria This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions. The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory. There are 41 entirely new entries, marking the emergence of a new generation of Post Keynesian scholars. The central issues that were dealt with in the first edition remain at the core of the book, but much more attention is paid in this second edition to financial markets, to Post Keynesian economics outside its traditional Anglo-American heartland and to gender issues and environmental policy. Including major theoretical, methodological and policy issues in Post Keynesian economics, this enriching Companion will strongly appeal to postgraduate and advanced undergraduate students in economics as well as related social science disciplines including international political economy, international relations, politics, public policy and sociology.